All Forum Posts by: Chris Gordon

spray-net kitchen refinishing. Do it once, do it right, and not have to do it again for probably longer than you'll own the place.

Seriously, see if there's a Spray-Net location near you. Fantastic products for recoating roof and changing color of it, too. Comes with written warranty...really worth doing.

I am just amazed at the incompetence of some wholesalers. 

Last night I put under contract a house in Ky that "Sincere Home Buyers" of Georgia backed out of yesterday. I don't mind putting their name out here.

The sellers were supposed to close on their dream house next week contingent to selling this subject property. While I talked to them they bounced from tears to panic. The texted explanation from the wholesaler? Couldn't find a "partner" to buy the house. However this realization was made very last minute, and well beyond the month-long inspection period they specified.

They offered > 4x what I offered. Their offer was asinine. Their offer was totally ignorant, irresponsible, and put these folks in a terrible position.

Wholesalers, if you don't understand the local market, don't understand the property condition, and don't intend to honor your own contract, then stop doing business. Your incompetence creates huge issues for sellers who typically need solution to a problem and is unethical. You are the reason we get a bad name and justifiably are seeing legislation requiring licensure.

@Rob Bergeron, thanks, I noticed you posted the same regarding schools elsewhere.

Feels like a couple of days in the car touring the area will help towards that ABCD understanding and building a buy box.

Speaking of outside competition...I'm in Lexington. I'm looking to get smarter on Louisville; other than the basics (school ratings, redfin, etc) you have any suggestions for resources to help me narrow the scope and focus on learning specific areas?

If you aren't factoring in a honest and real holdback for capex/vacancy/repairs, and calculating CoC ROI after that deduction, you're kidding yourself.

That said: CoC ROI, within reason. 25% COC ROI but making $25 cashflow, I dunno.

If I can make same or greater with an easy index fund, why would I buy RE? You need CoC ROI to tell you your investment is superior to a Vanguard fund, etc.

RE by it's nature is illiquid, never totally passive.

Index funds have RE beat on both those aspects.

Therefore, I don't see why I'd choose to invest in something with less liquidity, and not as simple as index funds, when I'm getting about the same return as them.

@Brad Noe recently relocated to Lexington from Pittsburgh...anywhere I can drive easily from Lexington, so Lville included...I'm exploring and learning the area.

My LLC for Kentucky buy&hold is "purple pig properties, LLC".

Question is, use that for branding, or no? This would be letters and postcards.

I think it's unique and memorable. I have one opinion saying it's not serious enough. Thoughts?

Having grown up in Philadelphia and living in Pittsburgh for the last 5 years, this Is such a good chance to make fun of W Pa!